Apprenticeship Incentive Payments 1st August 2020 to 31st January 2021
Incentive payment for hiring a new apprentice
One of the government’s plans to help kick-start the nation’s economic recovery is to give employers an incentive payment when they take on a new apprentice. This will be available for any employers who hire an apprentice between 1st August 2020 and 31st January 2021. There will be two levels of payment based on age. For apprentices aged 16-24 the payment will be £2,000, and for apprentices aged 25 or over the payment will be £1,500. There will be no limit on the number of incentive payments that an employer can claim for apprentices eligible to receive funding, provided each apprentice meets the criteria, including being a new employee.
Additional Financial Support Employers - For a Limited Time
When employers take on a 16-18-year old on an apprenticeship standard, they receive £1,000 to help meet the extra costs associated with this.
These payments are separate from, and therefore in addition to, the incentive payments for hiring a new apprentice, which are paid directly to the employer through the apprenticeship service.